Creating posting accounts for the finance enterprise group

Posting accounts are defined at the finance enterprise group level for all of the accounting entities that belong to the finance enterprise group.

  1. Select Financials > Global Ledger > Setup > Finance Enterprise Group > Maintenance.
  2. Open the finance enterprise group and click the Account tab.
  3. Click Create.
  4. Specify this information:
    Account
    Specify the account number. If you specified an account regular expression on the finance enterprise group, then you must follow the format of the regular expression. The account number may include a sub account, depending on the format your organization is using and whether the finance enterprise group uses the Use Sub Accounts option.
    Description
    Specify the account name.
    Chart Section
    Select the chart section that will use this account. Options are Balance Sheet or Income Statement.
    Account Type
    Select an account type. The account type must be valid for the chart section.
    Chart section Account type
    Balance Sheet Asset, Liability, Equity
    Income Statement Revenue, Expense
    Balance Sheet or Income Statement Stat Cumulative, Stat Non Cumulative
    Note: If Stat Cumulative or Stat Non Cumulative are selected, only units can be specified on the posting account. No amounts can be specified.
    Sub Type
    Select an account sub type to provide more detail to the account.
    Valid Sub Accounts
    If the Use Sub Accounts option is selected on the finance enterprise group, you can add sub accounts to this account. Add sub accounts by selecting this sub account group.
    Create Major Chart Account
    Select this check box to create a major chart account for this account. The major chart account can be assigned to one or more charts to use in posting transactions to the account. If you are using sub accounts and you do not want transactions posted to the major account, then clear this check box.
    Account In Chart
    To assign the new account to charts based on an account that already exists, specify the existing account number. In the chart hierarchy, a new chart account is created in each summary account where the existing account appears.
    Effective Date
    Specify the date on which the account takes effect. If this field is blank, then the current date is used.
    Future Changes
    This is a read-only field. This check box will be selected when there are future changes for the account.
    System Account
    If this account is a system account, then select the system account.
    Allow Units
    Select whether units are allowed and whether they are required.
    • Select Not Required if units are allowed but not required in this account.
    • Select Required if units are required in this account.
    • Select No if units are not allowed in this account.
    Natural Balance
    Optionally, select whether the account is naturally a credit or debit account. This is in an information-only field.
    System Restriction
    To restrict the account to one or more system codes, select the custom group that includes the system codes that can use the account. To create a new custom group, click the arrow in the System Restriction field and click Create.

    If you do not restrict the account, then interfaced values from all system codes are accepted by the account.

    Translation Code
    Select a translation code.

    If this field is blank, then the translation code default value is BS for Balance Sheet or IS for Income Statement. The value depends on the chart section that you select.

    Revalue
    Select Yes to revalue functional, alternate, or enterprise currency amounts for rate changes.
    Xbrl Tag
    If your finance enterprise group uses eXtensible Business Reporting Language (XBRL) standards, then you can specify an XBRL tag for the account.
    Currency
    Select the currency to restrict transactions using this account to a single currency.
    Interface In Detail
    Select the check box to interface this account in detail.
    Is Reconcilable
    Select this check box if the account is reconcilable.
  5. Click Save.